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Economy

Soaring fuel prices drag on Thai economy, spark protest

Southeast Asian nation fighting to shake off impact of COVID-19 pandemic

Hundreds of trucks surrounded Thailand's energy ministry building in mid-November, demanding cheaper diesel. (Photo by Marimi Kishimoto)

BANGKOK -- Soaring energy prices are threatening to hobble Thailand’s economic recovery from the COVID-19 pandemic and have already sparked angry demonstrations in the ‘Land of Smiles.’

The Thai government on Wednesday said diesel oil prices will be capped at 28 baht (84 cents) per liter from December to March 2022 -- 2 baht lower than previous cap set in November.

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